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How do you sell your home in the coronavirus outbreak? One realtor might have the answer

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Updated: 12:59 PM CDT Apr 11, 2020

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this is home selling in the age of Corona virus Ah three d virtual view of a residential property on Capitol Hill in Washington. It's a first time use of the technology by Realtor Joel Nelsen. What has the Corona virus stunt your business? We began to make pretty drastic adjustments with no more public open houses. Amid the pandemic, Nelson says he spent about $3000 to create three D tours on his own and bought social media ads to tout the technology with links. This is the new normal. We need to be prepared for it, so we'll be doing it for all of our listings. Going forward, the new normal may turn into a spring slump, the likes of which have rarely been seen. A recent National Association of Realtors survey found the drop in home buyer interest tripled in just one week. Lawrence Yun is the association's chief economist. We are seeing some home sellers where put their homes on the market now the listening. So I think in the spring buying season is going to be very salt. How soft Capital Economics warns of a collapse in home sales of 50 to 60% this quarter, but not a crash in home prices due to moves by Congress and states to prevent a flood of foreclosures on the outside. This is 18 nineties brownstone. It's causing Realtors like Joel Nelsen to match unique turmoil with new tools and expectations. About half of our buyer clients have taken a pause, maybe more like 2/3. Economists are hoping for a rebound in the second half of the year if the trillions of dollars in relief from Congress and the Federal Reserve are enough to stop the slide in Washington, I'm chief national investigative correspondent Mark Albert.

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How do you sell your home in the coronavirus outbreak? One realtor might have the answer

The coronavirus pandemic has crushed home sales across the country, and the worst may still be yet to come.Virtual 3D tours of homes are quickly becoming the new standard for real estate selling in the age of coronavirus. As health officials advise staying indoors to avoid unnecessary contact with others, that becomes a challenge in a business where inviting strangers inside is a typical part of the sales pitch. In times like these, big changes are necessary."We began to make pretty drastic adjustments," Joel Nelson, team leader and listing specialist of Joel Nelson Group said.With no more public open houses amid the pandemic, Nelson says he spent about $3,000 to create 3D tours on his own — and bought social media ads to tout the technology with links."This is the new normal; we need to be prepared for it," Nelson said. "So we'll be doing it for all of our listings going forward." The "new normal" may turn into a spring slump the likes of which have rarely been seen. A recent survey by the National Association of Realtors found drop-in home-buyer interest tripled in just one week."We are seeing some home sellers who had put their homes on the market now de-listing," Lawrence Yun, NAR chief economic, said. "So I think in the spring buying season, it's going to be very soft."Capital Economics, an economic research consultancy, warns of a "collapse" in home sales of 50% to 60% this quarter. But not a crash in home prices, due to moves by Congress and states to prevent a flood of foreclosures.Market changes have caused realtors like Nelson to adapt to the unique turmoil of an outbreak with new tools and expectations. Nelson says half to two-thirds of his clients have taken a pause.Economists are hoping for a rebound in the second half of 2020. But that hope rests on if the $2 trillion relief package from Congress and the Federal Reserve are enough to stop the slide.

The coronavirus pandemic has crushed home sales across the country, and the worst may still be yet to come.

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Virtual 3D tours of homes are quickly becoming the new standard for real estate selling in the age of coronavirus. As health officials advise staying indoors to avoid unnecessary contact with others, that becomes a challenge in a business where inviting strangers inside is a typical part of the sales pitch. In times like these, big changes are necessary.

"We began to make pretty drastic adjustments," Joel Nelson, team leader and listing specialist of Joel Nelson Group said.

With no more public open houses amid the pandemic, Nelson says he spent about $3,000 to create 3D tours on his own — and bought social media ads to tout the technology with links.

"This is the new normal; we need to be prepared for it," Nelson said. "So we'll be doing it for all of our listings going forward."

The "new normal" may turn into a spring slump the likes of which have rarely been seen.

A recent survey by the National Association of Realtors found drop-in home-buyer interest tripled in just one week.

"We are seeing some home sellers who had put their homes on the market now de-listing," Lawrence Yun, NAR chief economic, said. "So I think in the spring buying season, it's going to be very soft."

Capital Economics, an economic research consultancy, warns of a "collapse" in home sales of 50% to 60% this quarter. But not a crash in home prices, due to moves by Congress and states to prevent a flood of foreclosures.

Market changes have caused realtors like Nelson to adapt to the unique turmoil of an outbreak with new tools and expectations. Nelson says half to two-thirds of his clients have taken a pause.

Economists are hoping for a rebound in the second half of 2020. But that hope rests on if the $2 trillion relief package from Congress and the Federal Reserve are enough to stop the slide.